OK, thanks to Monster-Toys we have
two mold designs; a classic 2 piece, clam shell, top pour and a 3 piece injection mold type. The three piece has the advantage of no mold seams on the foot bottom. The two piece uses less mold material and less voids, so it would cost less to have made.
For the actual foot material, I would like to use platinum cure silicone. It is chemical, UV, and heat resistant and should last for many years. It can be formulated to a specific color and Shore hardness, but it is more expensive than other materials and usually requires vacuum degassing. An inexpensive alternative might be Oogoo.
As this is all very much new and untested, I think I will start out going the inexpensive route and reporting back what works and what doesn't. I think I will also look into making those plastic spacer things that always seem to be broken.